Good Morning. A tale of many cities. That’s what’s driving the high expectations for the second-half results of Genting Berhad, with analysts at Maybank saying visitor arrivals have increased at all of its integrated resorts. Looking to Macau, strong rises in tourism and gaming were seen in the second quarter, causing GDP to double yearly. And the fate of the Macau Jockey Club remains uncertain, as authorities won’t provide details on whether it’s fulfilling its concession obligations.
What you need to know
- Maybank has high expectations for Genting Berhad in 2H23, with anticipated quarterly improvements driven by increasing visitor arrivals at all its integrated resorts.
- Gaming watchdog with no response to Macau Jockey Club‘s possible investment plan failings, debts and ongoing likelihood.
- Macau’s GDP doubles year-on-year in the second quarter, driven by the thriving tourism and gaming sectors.
On the radar
- Singapore money laundering suspects linked to China gambling groups.
- Australia’s largest EGM operator fined for not minimizing gambling harm.
- China intensifies regional crackdown on gambling crime, repatriates 24.
- China’s platforms remove live streaming features in gambling crackdown.
- Macau police impose crowd control measures due to surge in visitors.
AGB Intelligence
GENTING BERHAD
Maybank holding high expectations as visitor arrivals surge at IRs
Genting Berhad is benefiting from a diverse portfolio of properties worldwide, with analysts at Maybank predicting strong second-half results as visitor arrivals surge at all of its integrated resorts. A return of Chinese visitors to Resorts World Sentosa is expected to continue the typical July/August rush, while in the United States, the inaugural Formula 1 race will drive overall visitation during the fourth quarter.
Corporate Spotlight
1xBet was founded in 2007 and started accepting bets online in 2010. Over the years, 1xBet has become a key player in the sports betting industry and is now one of the top three most visited betting websites.
Industry Updates
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